Macroeconomics 9th Edition by David Colander

Exercise 9

According to the Peruvian economist Hernando de Soto, in the 1980s, getting a deed for property in Peru involved 207 bureaucratic steps, took 43 months, and cost 10 weeks' worth of the official minimum wage.
a.What problems would that create for economic development
b.What problems would the lack of titling create for public utilities